Trafigura Engages in Red Sea Risk Assessment Post Houthi Assault on Tanker

Commodities trader Trafigura announced on Saturday that it is currently evaluating the security risks associated with future voyages in the Red Sea. This decision follows the recent incident where firefighters successfully extinguished a blaze on the Marlin Luanda tanker, which had been attacked by Yemen's Houthi group a day earlier.

The U.S. military reported that a U.S. Navy ship and other vessels provided assistance after the Marlin Luanda was struck by a Houthi anti-ship missile. Trafigura released a statement, stating, " Currently, no additional ships representing Trafigura are navigating through the Gulf of Aden. We are diligently evaluating the risks associated with each journey, taking into account the security and safety of the crew, in collaboration with shipowners and customers."

In response to the increased security threats, some shipping companies have opted to suspend transits through the Red Sea, accessible from the Gulf of Aden. Instead, they are choosing longer and more expensive routes around Africa to avoid potential attacks by the Houthi group, which initiated a series of exploding drone and missile attacks on vessels starting from November 19. These actions were a response to Israel's military operations in Gaza.

The Houthi attacks have primarily targeted container vessels traversing the Red Sea, while many fuel tankers have continued using the route. A notable exception is QatarEnergy, the world's second-largest exporter of liquefied natural gas, which, citing security concerns, ceased sending tankers via the Red Sea earlier this month.

The Marlin Luanda incident unfolded over several hours on Saturday, as the crew engaged in battling a blaze in one cargo tank on the starboard side of the vessel. By Saturday afternoon, the fire had been successfully extinguished, and all crew members were confirmed safe. The tanker is currently enroute to a secure harbor. Notably, the vessel was carrying Russian naphtha, which was procured below the price cap in accordance with G7 sanctions, as confirmed by a Trafigura spokesperson on Friday.

In response to the Houthi attacks on shipping, the U.S. and British military forces have conducted numerous retaliatory strikes across Yemen over the past few weeks, targeting Houthi forces. Just eight hours after the Marlin Luanda incident, the U.S. military intercepted and destroyed a Houthi anti-ship missile that was positioned and ready to launch into the Red Sea. The ongoing tensions and security challenges in the region are prompting a reassessment of maritime routes and operational procedures to ensure the safety of vessels and crews navigating through these troubled waters.